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Engineer Loan Against Property : Eligibility Criteria

Engineer Loan Eligibility Criteria

Bajaj Finserv provides you Engineer Loan Against Property of up to ₹2 crore to help you meet your diverse financing needs. With minimum engineer loan eligibility criteria and documents, you can successfully apply for this advance with ease. As these secured loans come with no restriction to end-use, you can avail them for both personal and professional funding needs.

Apply for this finance for engineers by meeting the eligibility criteria mentioned below.

Loan Against Property for Engineers – Eligibility Criteria

You must meet the eligibilities related to your age, nationality, income source and more to receive Bajaj Finserv Engineer Loan.

Qualification

You must -

  • Have a valid engineering degree.
  • Be employed at the time of sending a loan application.

Employment Status

Eligibility as per form of employment is as follows –

  • A self-employed engineer – Must have a business vintage of at least 3 years from the date of application.
  • A salaried engineer – Working as a consultant or at any other designation with a job experience of at least 5 years.

Age

An engineer must be between 25 and 65 years of age to avail personal finance for engineers.

Engineer Loan Against Property – Documents Required

Along with meeting the engineer loan eligibility criteria, an engineer must also validate the eligibility with documents that support the claim. They are as follows –

  • Proof of identity.
  • Proof of address.
  • Proof of employment.
  • Certificate of graduation along with mark sheet.
  • PAN card as a proof of your registration with the government as a taxpayer.
  • Documents of mortgage.

Along with that, must also have the following documents if you are a salaried engineer –
 

  • The letter of employment for a consultant engineer, if required.
  • Latest salary slips.

For self-employed engineers, additional documents required include –
 

  • Registration documents of the company.
  • A certificate of practice.
  • Documents supporting 3 years of business vintage.

This concludes the preliminary list of engineer loan documents required for application. You may be asked to provide few additional documents as and when necessary for loan approval.

With this detail on engineer loan eligibility criteria and documents requirement, you may proceed to apply for a loan against property for engineer. Know the steps on how to apply for an engineer loan to complete the application procedure easily.